In searching for resource efficiency, life cycle extension, and achieving sustainable objectives, companies in different sectors are exploring alternatives to servitization. In this context, the Component as a Service (CaaS) emerges as a potential transition from a sales-centric to a use-centric business model. To support the challenges of this transition, this paper explores the current state of knowledge of this circular business model (CBM) in the Literature and market, integrating the main findings to propose a structure that facilitates its business model design. The methodology includes a systematic literature review and a market review that identified 10 CaaS cases in the industry. The results provide a systemic and comprehensive landscape and aim to guide OEMs in developing a more resilient, efficient, circular model focused on the value delivery of their products.